PPT-Big Business and Monopolies

More than Just a game Why did Big Business grow Availability of work force National markets created by transportation Lowercost production Inventions Advertising Financial resources Access to raw materials and energy. The . Rise. of Big Business. Essential Question. :. Was the rise of industry good for the United States?. . A Brassy, Flamboyant Age. Gilded Age. :. {Reconstruction (1877). --. Progressive Era (1901)}. The . Rise. of Big Business. Essential Question. :. What factors led to the rise of the American Industrial Revolution from 1870 to 1900?. Warm-Up Question:. Examine the image on the next slide & answer the question: . Japan’s power monopolies raise costs and stifle innovation. . Ten regional monopolies (including TEPCO) are stifling innovation. Green technology needs more work (Needs more academic funding). Some politicians in favor of monopolies/ others against them. Types of Market Structure. Four principal models of market structures:. Perfect Competition. Many producers sell identical product. Monopoly. Single producer sells a single, undifferentiated product. 5.3.3. Learning Outcomes. To understand the meaning of the term ‘monopoly’.. To appreciate what is meant by monopoly power and how this can influence a firm’s behaviour.. To understand the main disadvantages and advantages of a firm having monopoly power. . Monopoly. -A situation in which a . single. . company. . owns. all or nearly all of the . market. for a given type of . product. or . service. . . No competition!!!. Cartel. loose . association of businesses making the same product, that agree to share certain business practices, such as same pricing.. Friday, January, 24, 2014. Do Now . Post a tweet advertising a new invention that will make life easier. . What is your invention? . How does it work? . How will it benefit mankind?. Post . Your. Tweet!. -A situation in which a . single. . company. . owns. all or nearly all of the . market. for a given type of . product. or . service. . . No competition!!!. Cartel. loose . association of businesses making the same product, that agree to share certain business practices, such as same pricing.. What is a monopoly?. A monopoly forms when barriers prevent firms from entering a market that . has a single . supplier with close to no substitute goods. .. Monopoly markets only have one seller, whereas, perfectly competitive markets have multiple sellers.. One firm selling good or service with no substitutes. Barriers to entry that prevent competition from new firms. What is a monopoly?. Monopoly in the news. Natural. One firm can meet demand at a lower ATC than two or more firms. 1890-1920. Terms to Know. Progressivism: Movement to respond to societal problems caused by industrialization and urbanization.. Socialism: . a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a . Transforming the American Economy and Society. Robber Barons or Captains of Industry?. Student Learning Target/Objective. I can examine how industrialization transformed the US economy.. Access . Notebowl. Students will be able to identify and/or define the following terms:. Monopoly. Natural Monopoly. Patent. Do . Now. What is a barrier to entry?. Any condition that makes it difficult to enter a market.. Monopoly Meaning: . A m. onopoly is a market structure characterized by a single seller or producer that controls the entire supply of a particular good or service. This dominance gives the monopoly significant market power, allowing it to...